Adapting to climate change can’t be left to the wild west of the markets – Opinion

Climate change will represent a major challenge for finance and insurance according to the Intergovernmental Panel on Climate Change’s (IPCC) fifth report. To bridge the gap in public finances caused by recurrent extreme weather events, it recommends appealing to private investors. And this, according to the opinion piece of Razmig Keucheyan published in the Guardian, is not a good idea. He argues that adding financial instability that is caused by volatile markets to environmental instability will only increase the scale of disasters and he recommends instead a more environmental long-term planning.